Lights take care of the safety, utility, navigation and visibility aspect of the planes, which make them inseparable from a craft’s structure. Different types of lights are used in an airplane’s structure, which generally include navigation, landing, wings, taxi, wheel well, strobe, logo, runway turnoff lights, etc. Airlines from across the globe have already moved past the economic crisis of 2008. Growing size of the airline industry is also credited to improved standard of living of the global population, which is creating greater demand for aircrafts. These are the basic factors behind steady growth in the global aircraft lighting market. According to expert researchers, the industry is poised to witness technological advancements and growth in the near future, which is a great sign for the businesses in this market.
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Global Commercial Aircraft Lighting Market Overview
Recovery of the global airline industry has evolved throughout the past few years. In fact, the economic crisis has in a way helped the commercial aircraft manufacturers to get new orders of various parts, systems and technologies of airplanes. Most of these orders come from the emerging marketplaces like Asia Pacific countries and the strongest emerging markets like BRICS countries. Increasing frequency of air travel, rising standard of living in the developing countries and cost effective nature of long air journeys are the basic driving factors for growing demand for the aircrafts, which is direct influence on the lighting market.
The global aircraft lighting market is segmented on the basis of the types of aircrafts, products, stakeholders and geographic locations. Based on geography, the industry is first divided into different regions and further sub-segmented based on the countries. The geographic segments of the industry include Americas, Asia Pacific, Europe and rest of the world. The country wise classification of the industry includes the countries like Canada, Brazil, China, United States of America and Russia.
- Aircrafts: Narrow body, large body, very large body and regional transportation aircrafts
- Products: Lights including reading, ceiling and wall, floor-path, lavatory, exterior, signage, etc.
- Stakeholders: Airlines, aircraft refurbishing companies, aircraft integrators, aircraft lighting systems manufacturers and sub-components manufacturers for LEDs and switches, etc.
According to the market research reports for aircraft lighting market, narrow body crafts are expected to record maximum demand for the industry products. Based on the same reports, the industry is expected to grow at an anticipated CAGR of over 5% until 2017. Within next four to five years to come, the market is expected to grow worth $1.31 billion by the end of 2017. In 2012, the market was poised at $1 billion, which shows the steady growth in the industry. Developing markets like BRICS countries and Asia Pacific will create better business opportunities for the industry, which is aiming an upward curve for near future.